Includes developments in relation to: future of UK financial services regulation; climate risk assessments; benchmark administrators; IFR; solvency II; and fighting financial crime

Click on the headings below to access each section:

General

  • Financial Services and Markets Bill 2022-23 – House of Commons second reading and call for evidence

  • The future of UK financial services regulation – House of Commons Treasury Committee publishes responses to its report from HM Treasury, the PRA and the FCA

  • Financial inclusion – Treasury Committee publishes letter from HM Treasury

  • Tackling the energy crisis – European Commission outlines measures related to the financial system

  • Future approach to policy – PRA publishes Discussion Paper (DP4/22)

  • Change in control - FCA imposes conditions on takeover of Link Group

  • Complaints – FOS publishes quarterly complaints data

Beyond Brexit

  • Temporary permissions regime – FCA updates webpage to reflect how to cancel temporary permission

Banking and Finance

  • Harmonisation of ISO 20022 – CPMI publishes article

  • Basel III – BCBS reaffirms implementation expectations

  • Consumer Credit Directive – IMCO has published its report on proposed Directive

  • A strong and simple prudential framework - Treasury Committee publishes letter from PRA

  • Non-Performing Loans Directive - FMLC publishes letter on uncertainties of draft ITS

Securities and Markets

  • Central clearing and portability – CPMI and IOSCO publish report

  • MiFID II / MiFIR – ESMA updates Q&As on transparency

  • Trade repositories and securitisation repositories – FCA publishes portfolio letter  

  • Benchmark administrators – FCA publishes portfolio letter quality of data and data controls

Asset Management

  • IFR – European Commission publishes Commission Delegated Regulation covering RTS on fixed overhead requirements in OJ

Insurance

  • Solvency II – EIOPA publishes report on data quality in Solvency II reporting

Financial Crime

  • Frozen assets reporting – OFSI publishes 2022 reporting notice

  • Fighting financial crime – FCA publishes speech